Banks and investors still heavily involved in coal power worldwide
Urgewald et al.
Many banks and large investors – even those who have publicly committed themselves to divest from CO2 intensive businesses and are members of the Institutional Investors Group on Climate Change (IIGCC) – are still supporting new coal plants around the world, two studies by a group of environmental NGO’s show. Germany is number ten in the list of institutional investors holding over 1 billion US dollars in shares and bonds of coal plant developers (2% of total institutional investments; the US account for 37%, UK for 5%). German insurance company Allianz is among the 30 biggest investors in shares of coal companies.
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